ImClone beats Wall St. view for Q4 by a dime

MichaelBaron

NEW YORK (MarketWatch) -- ImClone Systems
IMCL, +6.11%
reported a fourth-quarter loss of $13.2 million, or 16 cents per share, narrower than its year-ago equivalent loss of $26.3 million, or 35 cents per share. Excluding a charge of $55.4 million related to its litigation settlement, the company posted pro forma earnings of 48 cents per share for the December period. Revenue increased to $107.3 million in the latest three months from $19.8 million in the same period a year earlier. The company's Erbitux anti-cancer drug accounted for sales of $87.8 million in the quarter. The average estimate of analysts polled by Thomson First Call was for a profit of 38 cents per share on revenue of $93.3 million in the quarter. The stock closed Tuesday at $37.45, up 1.3 percent.

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